UserZoom Announces $800 Million Strategic Development Investment
UserZoom, a UX research and optimization platform headquartered in San Jose, Calif., announced an $800 million investment from software investment group Thoma Bravo on March 1, 2022.
Prior to this investment, UserZoom garnered around $135 million in funding, including a $35 million Series A round in 2015 and a $100 million round headed by Owl Rock Capital in April 2021. It also strengthened its research capabilities via a series of strategic acquisitions, including YourEye, WhatUsersDo, Validately and, most recently, EnjoyHQ.
This latest cash infusion will drive the continued expansion of UserZoom’s proprietary platforms, with Sunstone Partners and UserZoom founders and management to remain key stockholders.
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A Market Growth Strategy
Alfonso de la Nuez, co-founder and co-CEO of UserZoom, told CMSWire that the platform plans to look toward the future.
“With this investment, the company will be able to increase its go-to-market capacity, expand its geographic reach and, most importantly, continue to innovate on its UX Insights System, which will enable UserZoom, to provide customers with the research capabilities, participant recruitment and expert assistance they require in order to be profitable.”
UserZoom currently has more than 1,000 clients, including nearly half of the organizations on the Fortune 100 list.
A Focus on Innovative Tools
UserZoom has previously released innovations across product and platform investment areas, including UX Research Management, Analytics and Insights and Participant Recruitment Automation.
Within UX Research Management, the “Live Interviews” tool offers automation that allows product and research teams to collect user feedback and deliver relevant customer insights. “Live Interviews enables product teams to easily recruit study participants, schedule sessions, collaborate virtually, synthesize findings and share research results across their organization,” said de la Nuez.
To tackle growing Analytics and Insights goals, the platform released an all-in-one video solution that expedites analysis and promotes collaboration.
The brand also announced new capabilities within Participation Recruitment, seeking to overcome the problem of finding the right people to test products in both qualitative and quantitative studies. “After all, if you are not testing with people within your target audience, the results won’t be valuable,” said de la Nuez.
Beyond new automated offerings, UserZoom released “QXScore” in 2021, a scoring system that helps companies measure the success of the digital experiences they deliver.
“By combining user and customer attitudes and behaviors into a single score between 0–100, UserZoom aligns experience performance to strategic business KPIs, allows organizations to compare themselves against industry averages and best practices and makes it easy for them to build plans to improve. This de-risks the product development process,” explained de la Nuez.
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A Future Look at UX
UserZoom is the only platform on the market that removes the barriers to testing, measuring and optimizing digital experiences across channels and touchpoints. While brands recognize UX’s impact on customer acquisition, engagement, loyalty and other KPIs, they often can’t keep up.
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“Research is often underfunded, understaffed or outdated,” said de la Nuez. “That’s why 42% of digital product experiences fail.”UserZoom’s platform, including its recent innovations, is meant to combine all of the tools necessary for teams to succeed.
“On the market today, there are a variety of UX testing point solutions for qualitative OR quantitative research, there are full-service UX research agencies and there are panel companies to provide research participants,” continued de la Nuez. “UserZoom brings all that together in one UX insights system for speed, quality, and scale.”
By using this all-in-one platform, businesses can learn how users engage with digital experiences across the customer journey without sacrificing feedback quality.
UserZoom anticipates a surge of democratization of UX insights going forward, lead by growth in tools, templates and technology. With growing demand from product executives and digital innovators, UX teams may become overburdened. The solution? Teams will have to conduct their own research in a consistent and organized manner that results in data that’s accessible to the entire company.
The platform also expects a greater emphasis on DEI (Diversity, Equity and Inclusion) in the coming years. With no signs of the digital economy abating, people of all backgrounds and abilities rely on the internet for some elements of their lives. Therefore, research and product teams want to create digital experiences that are inclusive in terms of gender, ethnicity and accessibility.
SOURCE https://www.cmswire.com/customer-experience/userzoom-announces-800-million-strategic-development-investment/